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Hans Solo has a choice to make. Option A: Should he invest 18000 at 10.7% for 7 years earning simple interest, or Option B: Should
Hans Solo has a choice to make. Option A: Should he invest 18000 at 10.7% for 7 years earning simple interest, or Option B: Should he invest the same amount of money at 10.45% compounded monthly for the same amount of time? Simple Interest: Principal (0.5 points) Rate - as a decimal (0.5 points) Time (0.5 points) What will the future vale of the investment be with Option A? Round to two decimal places. (1.5 points) Compound Interest: P/Y (0.5 points) C/Y (0.5 points) Hans Solo has a choice to make. Option A: Should he invest 18000 at 10.7% for 7 years earning simple interest, or Option B: Should he invest the same amount of money at 10.45% compounded monthly for the same amount of time? Simple Interest: Principal (0.5 points) Rate - as a decimal (0.5 points) Time (0.5 points) What will the future vale of the investment be with Option A? Round to two decimal places. (1.5 points) Compound Interest: P/Y (0.5 points) C/Y (0.5 points)
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